Description
Discover the profound insights of "The Profit Paradox" by economist Jan Eeckhout. This compelling book delves into the alarming rise of market power and its detrimental effects on global workers. In a world teeming with technological advancements and seamless communication, one might expect that wages would soar and costs would plummet. However, the harsh reality painted in this book reveals stagnating wages and escalating prices across the board. Through meticulous research and real-life narratives, Eeckhout illustrates how a handful of dominant companies are exploiting their market position, driving up prices far beyond what would occur in a genuinely competitive marketplace.
Published by Princeton University Press in 2021, this groundbreaking work (ISBN: 9780691226385) discusses the dire consequences of market concentration and the looming threats it poses to economic stability, including potential market corrections and political unrest. The narrative exposes how, over the last four decades, a select group of corporations—often called "superstar companies"—have amassed wealth and influence, creating an unstable economy that stifles wage growth and reduces social mobility for everyday workers.
A vital read for anyone aiming to understand the tangled web of economics, technology, and social justice, "The Profit Paradox" reveals not just the problems but also the urgent need for mechanisms to restore competitive balance in our markets. Embrace the chance to engage with these critical themes and enhance your understanding of the complexities shaping our world today. Secure your copy now!
Note: Shipping for this item is free. Please allow up to 6 weeks for delivery. Once your order is placed, it cannot be cancelled. Condition: BRAND NEW.
Note: Shipping for this item is free. Please allow up to 6 weeks for delivery. Once your order is placed, it cannot be cancelled.
Condition: BRAND NEW
ISBN: 9780691226385
Year: 2021
Publisher: Princeton University Press
Description:
A pioneering account of the surging global tide of market power—and how it stifles workers around the world
In an era of technological progress and easy communication, it might seem reasonable to assume that the world’s working people have never had it so good. But wages are stagnant and prices are rising, so that everything from a bottle of beer to a prosthetic hip costs more. Economist Jan Eeckhout shows how this is due to a small number of companies exploiting an unbridled rise in market power—the ability to set prices higher than they could in a properly functioning competitive marketplace. Drawing on his own groundbreaking research and telling the stories of common workers throughout, he demonstrates how market power has suffocated the world of work, and how, without better mechanisms to ensure competition, it could lead to disastrous market corrections and political turmoil.
The Profit Paradox describes how, over the past forty years, a handful of companies have reaped most of the rewards of technological advancements—acquiring rivals, securing huge profits, and creating brutally unequal outcomes for workers. Instead of passing on the benefits of better technologies to consumers through lower prices, these “superstar” companies leverage new technologies to charge even higher prices. The consequences are already immense, from unnecessarily high prices for virtually everything, to fewer startups that can compete, to rising inequality and stagnating wages for most workers, to severely limited social mobility.
A provocative investigation into how market power hurts average working people,
Published by Princeton University Press in 2021, this groundbreaking work (ISBN: 9780691226385) discusses the dire consequences of market concentration and the looming threats it poses to economic stability, including potential market corrections and political unrest. The narrative exposes how, over the last four decades, a select group of corporations—often called "superstar companies"—have amassed wealth and influence, creating an unstable economy that stifles wage growth and reduces social mobility for everyday workers.
A vital read for anyone aiming to understand the tangled web of economics, technology, and social justice, "The Profit Paradox" reveals not just the problems but also the urgent need for mechanisms to restore competitive balance in our markets. Embrace the chance to engage with these critical themes and enhance your understanding of the complexities shaping our world today. Secure your copy now!
Note: Shipping for this item is free. Please allow up to 6 weeks for delivery. Once your order is placed, it cannot be cancelled. Condition: BRAND NEW.
Note: Shipping for this item is free. Please allow up to 6 weeks for delivery. Once your order is placed, it cannot be cancelled.
Condition: BRAND NEW
ISBN: 9780691226385
Year: 2021
Publisher: Princeton University Press
Description:
A pioneering account of the surging global tide of market power—and how it stifles workers around the world
In an era of technological progress and easy communication, it might seem reasonable to assume that the world’s working people have never had it so good. But wages are stagnant and prices are rising, so that everything from a bottle of beer to a prosthetic hip costs more. Economist Jan Eeckhout shows how this is due to a small number of companies exploiting an unbridled rise in market power—the ability to set prices higher than they could in a properly functioning competitive marketplace. Drawing on his own groundbreaking research and telling the stories of common workers throughout, he demonstrates how market power has suffocated the world of work, and how, without better mechanisms to ensure competition, it could lead to disastrous market corrections and political turmoil.
The Profit Paradox describes how, over the past forty years, a handful of companies have reaped most of the rewards of technological advancements—acquiring rivals, securing huge profits, and creating brutally unequal outcomes for workers. Instead of passing on the benefits of better technologies to consumers through lower prices, these “superstar” companies leverage new technologies to charge even higher prices. The consequences are already immense, from unnecessarily high prices for virtually everything, to fewer startups that can compete, to rising inequality and stagnating wages for most workers, to severely limited social mobility.
A provocative investigation into how market power hurts average working people,